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Buyers predict house price recovery

More than 50 per cent of people questioned by property website feel confident that property prices will continue to rise over the next 12 months.

In a major turnaround from a similar survey in January 2009 - when just 10 per cent of people were anticipating increases - some 53 per cent of respondents now expect housing prices to recover during 2010.

However, homebuyers remain cautious about the property market and expect to see only modest increases, with 47 per cent predicting prices will rise by less than 10 per cent, and only 7 per cent expecting to see gains in double figures. In contrast, just 13 per cent of visitors to said they think house prices will fall during the next 12 months, down from 69 per cent a year ago.

Rightmove said the high proportion of people expecting further price rises is “very encouraging” and welcomed positive price sentiment as a very important force in the recovery of any housing market.

Commercial director Miles Shipside said: “Given the looming election and the talk of pending austerity packages ahead, this consumer survey highlights a surprisingly positive property price outlook.”